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India Central Bank Prohibits Sales Of Gold Coins

Tyler Durden's picture





 

Two weeks ago, with its current account getting crushed by relentless gold imports, India's finance minister Chidambaram literally begged the people to stop buying gold. Judging by the popular response, the ongoing physical shortage, and last night's increase in Indian gold import duties from 6% to 8%, appealing to people's feeling when it comes to the choice of fiat vs physical, has failed miserably. So the FinMin Chidambaram has decided to escalate.  Per Reuters: "The Reserve Bank of India has advised banks against selling gold coins to retail customers, Finance Minister P. Chidambaram said on Thursday, a day after he raised gold import duty to try to ease pressure on India's bloated current account deficit." Well, if there ever was one sure way to send demand for any product through the roof (guns, ammo, etc), it is for the government to prohibit its outright sale. What follows next, almost without fail, is a panicked, chaotic buying scramble.

Gold imports by India, the world's biggest buyer of bullion, surged to
162 tonnes in May -- more than twice the monthly average in the record
year of 2011.

 

"I think the Reserve Bank has advised banks that they should not sell gold coins," said Chidambaram, while speaking at an event in Mumbai.

 

Chidambaram also urged banks to advise their customers not to invest in gold.

Why? If it is not clear by now, here is the explanation: there is simply not enough gold to satisfy demand at the current artificially downward-manipulated price, no matter what propaganda script is being spun on Verizon TV at any given moment. And with India's idiotic decree, even more gold will be purchased at these prices.

Dear India - here is a simple way to limit demand: price.

Petition the central banks to allow gold to price based on price discovery, or as it is also known supply and demand. Because if gold were to cost $2000,$5000, $10,000/oz then all problems resulting from excess demand would immediately disappear and India's current account would be back to normal.

Of course this will not happen, as the crumbling facade of the imploding fiath based regime would immediately peel away. So back to gold capital controls and other ad hoc made-up measures guaranteed to not only fail but push the price of physical gold much higher.

Good luck.

 


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Thu, 06/06/2013 - 13:58 | Link to Comment Sweet Chicken
Sweet Chicken's picture

HAHA the wheels are coming off the cart. I love it! 

Thu, 06/06/2013 - 14:05 | Link to Comment ParkAveFlasher
ParkAveFlasher's picture

Wake me when they prohibit sales of gold shirts.

Thu, 06/06/2013 - 14:09 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

Poor Reserve bankers......gonna lose the shirts off their backs.

It's just making me sick with worry!

Thu, 06/06/2013 - 14:13 | Link to Comment NotApplicable
NotApplicable's picture

Oh, now I get the WGC pressure upon India. They want the gold remonitized by keeping it all in the banks, LOL.

This should end well.

Thu, 06/06/2013 - 14:17 | Link to Comment MillionDollarBonus_
MillionDollarBonus_'s picture

Indian goldbugz were warned. But they refused to listen. This is a prelude of the backlash that is going to occur against golbugz and anti-government loonies across the world. Your time is coming.

Thu, 06/06/2013 - 14:20 | Link to Comment Spider
Spider's picture

LOL - too bad you have no concept of economics.  This is how gold rockets...

What this is telling me is that the Rupee is about to get hit hard..very hard

Thu, 06/06/2013 - 14:24 | Link to Comment knukles
knukles's picture

Golly gee wiz, they sure's makin' one hell of a racket 'bout some traditional worthless barbaric relic nobody wants.

Thu, 06/06/2013 - 14:26 | Link to Comment Pinto Currency
Pinto Currency's picture

 

Just jabbing the bull before he busts out of the gate.

Pitty the Indian central banker on his back.

Thu, 06/06/2013 - 14:35 | Link to Comment francis_sawyer
francis_sawyer's picture

This whole charade kinda got me wonderin'...

~~~

OK...

- If the 'slave' Israelites escaped from Ramuses II into the desert [following Moses]...

- Then ~ next thing you know they're parked under Mt. Sinai while Moses is up there talking to burning trees...

- & in their boredom, decide to hammer out 'golden calves' to worship... & later, an 'ARK'...

Where the hell did 'SLAVES' get all the gold in the first place?

~~~

Maybe 'Meth Man' was right... It only costs $5 to dig it out of the groud... It's EVERYWHERE!

Thu, 06/06/2013 - 14:49 | Link to Comment gmrpeabody
gmrpeabody's picture

Zzzz....

Thu, 06/06/2013 - 16:55 | Link to Comment ZerOhead
ZerOhead's picture

 "I think the Reserve Bank has advised banks that they should not sell gold coins," said Chidambaram, while speaking at an event in Mumbai.


The Reserve Bank is right my Indians friends... DON"T buy gold coins... it's actually quite silly really....

BARS!!!... buy GOLD BARS!!!

Quickly now... there is no time to watse!!!...

Thu, 06/06/2013 - 17:29 | Link to Comment MillionDollarBogus_
MillionDollarBogus_'s picture

Indian goldbugz were warned. But they refused to listen. This is a prelude of the backlash that is going to occur against golbugz and anti-government loonies across the world. Your time is coming.

MDBonehead........

Physical gold and silver is purchased because of government loonies..

Get it right, please...

You are making us look very bad here...

Thu, 06/06/2013 - 19:13 | Link to Comment dryam
dryam's picture

Which is it, do you work for the Fed or the banks??  I love your attempts to misdirect the discussions on topics that touch too close to home.

Thu, 06/06/2013 - 15:08 | Link to Comment TPTB_r_TBTF
Thu, 06/06/2013 - 15:15 | Link to Comment MicroSecession
MicroSecession's picture

It was given to them.  Exodus 12:35-36, "The Israelites did as Moses instructed and asked the Egyptians for articles of silver and gold and for clothing. The Lord had made the Egyptians favorably disposed toward the people, and they gave them what they asked for; so they plundered the Egyptians."

Thu, 06/06/2013 - 16:16 | Link to Comment Ghordius
Ghordius's picture

gave? I thought... lent

Thu, 06/06/2013 - 16:29 | Link to Comment IndyPat
IndyPat's picture

Ha! What ever it takes. Just get the fuck out!

Thu, 06/06/2013 - 19:53 | Link to Comment beefman
beefman's picture

Actually       YES! Mess with gods people and he will turn your enemies into your footstools. Jealous god hating individuals get upset with this but the truth is the truth. They got ALL their gold and silver from the egyptians the same people who were oppressing them. Who are you oppressing. Think about that very seriously.

Thu, 06/06/2013 - 16:58 | Link to Comment IndyPat
IndyPat's picture

Um....yeah. They gave it to them. Plunder is another word for gave it to them, right? And God was cool with it, so no problem there.

Now I get it. Goldman and co...doing Gods work. So that's why they meant.

If I "give" Chuck Schumer a gold brick, do you think he will split for the Death Valley, melt it into an idol and stop bothering us? I'll dive into the lake and get one if he will.

Thu, 06/06/2013 - 15:27 | Link to Comment g'kar
g'kar's picture

To answer your question.... After re-watching the Charlton Heston movie "The Ten Commandments" for the 40th time, the few traitorous bankers that didn't stay with the losers (Egyptians) left with their gold with the Hebrews. While Moses was up on Mount Sinai talking to God the traitorous bankers took advantage. They bribed a bunch of useless sheeple to keep quiet and beat down the few believers while they built the Golden Calf. Apocolypse followed shortly after, any parallels?

Thu, 06/06/2013 - 16:28 | Link to Comment IndyPat
IndyPat's picture

Rumor has it that Moses was...an Egyptian prince, Pharaohs youngest son..and a priest of the mystery schools...and taught the tribe the ancient secrets of alchemy...how to turn nothing into something. Kinda like...say...central banking. Nah, that doesn't make sense.

Thu, 06/06/2013 - 16:44 | Link to Comment johansen
johansen's picture

You're partly right but you're over looking the fact that it was a different time back then,
today the whole world is under Acts 17:30 "In the past God overlooked such ignorance, but now he commands all people everywhere to repent."

key word being in the past.
we are in a different "AGE" and referenced in the Bible are two more to come. Ephesians 2:7.
so when you read of a conspiracy theory that the Georgia guide stones point toward a new age of reason.. well.. they are partly right. but they left out the divine judgement after the close of this age. (which hasn't happened yet)

the thought just occurred to me, perhaps the satanists who built the NWO think that if they can kill all the Christians, God won't have any reason to destroy them, and just leave them alone to live on the earth forever (after they figure out how to transmit their soul from a body to a robot lmao)

Thu, 06/06/2013 - 17:37 | Link to Comment Jack Napier
Jack Napier's picture

They know they are going to lose, not in this life necessarily. They traded their souls for power over this existence which passes in the blink of an eye. Now they are victims of insatiable powerlust. Sure they may live a while as cyborgs with Johnny Mnemonic sized brains (320 GB! WHOA), but the Kingdom of Heaven is coming to Earth. There will be nowhere for them to hide.

Thu, 06/06/2013 - 16:13 | Link to Comment tip e. canoe
tip e. canoe's picture

ready for some serious tinfoil francis?

Lost Secrets of a Sacred Ark

https://www.youtube.com/watch?v=SZJqLe60pKA

Thu, 06/06/2013 - 16:19 | Link to Comment IndyPat
IndyPat's picture

Maybe good tribe in question rehypoth'd a few tombs on the way out of town? I mean, the mummies weren't using it, right? Ain't like its money anyway, so what's the big deal. So why not make a idol out of it and roast a few babies, sing some songs?
IfIwuzarichman.....common, you know the words! Sing along!

Thu, 06/06/2013 - 17:02 | Link to Comment THX 1178
THX 1178's picture

LOL, yeah they looted all of egypt through the same scam they're using now and made off with the gold. In their book of scripture they made it sound like they were victims so no one would ever suspect them EVER. JOOZE.

Thu, 06/06/2013 - 17:17 | Link to Comment Nassim
Nassim's picture

This story about the Jews having been enslaved in Egypt is bunkum invented by Jews in Alexandria who wanted to show the Romans that they had been in Egypt for longer than the Greeks of the city. Egyptians are famous for documenting their history, and there is zero written evidence of the Jews ever having been kept there as prisoners.

The fact is that Western Saudi Arabia ties in much better with locations in the Bible. That was their "promised land". Of course, it does not please the Saudis - who have been studiously bulldozing all historical locations that might give the Israelis an excuse to move there.

Do an internet search and you will see what I mean.

Also, the history of Lebanon is well known and there were no "Canaanites" ever living there.

Fri, 06/07/2013 - 09:52 | Link to Comment jerry_theking_lawler
jerry_theking_lawler's picture

remember...if you write history, you can write it how you want to see it!!

 

fact, they weren't slaves.

Fri, 06/07/2013 - 18:38 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

Apparently there's detailed records of what gold payments were made for the crafting & construction of those pyramids. Just goes to show - slaves don't get paid, yet workers WERE paid. in gold.

Thu, 06/06/2013 - 14:33 | Link to Comment Pladizow
Pladizow's picture

Apu is bery bery angry!

Thu, 06/06/2013 - 15:00 | Link to Comment knukles
knukles's picture

He no likee de curry slurpie enema

Thu, 06/06/2013 - 15:05 | Link to Comment kaiserhoff
kaiserhoff's picture

Thanks knuks. 

Now I know what we should do with Ben.  Water boarding is too good for his sorry ass.

Thu, 06/06/2013 - 15:16 | Link to Comment wee-weed up
wee-weed up's picture

No, with Ben... we need to think like the Dark Ages...

A red-hot fire poker up the arse!

 

Thu, 06/06/2013 - 19:12 | Link to Comment Think for yourself
Think for yourself's picture

Nigga please...

I've only inscribed myself with one branding but that taught me enough about the process to know this is a bad idea.

The unbearable flash of pain only lasts a fraction of a second - and then the nerve endings burn off, dulling the pain to a level that is easily withstood with a bit of willpower.

I'd opt for juicing some jalapeños and cayenne, maybe some mustard greens as well. Add glass shards, use as enema. 

Edit: Oh. And then, tie the guy on top of a mechanical bull.

Fri, 06/07/2013 - 18:37 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

no fire ants?

You're too kind

Thu, 06/06/2013 - 14:54 | Link to Comment Stuck on Zero
Stuck on Zero's picture

Don't bother replying to MillionDollarBonus.  It's a bot.

 

Thu, 06/06/2013 - 16:56 | Link to Comment THX 1178
THX 1178's picture

troll not bot

Fri, 06/07/2013 - 09:53 | Link to Comment jerry_theking_lawler
jerry_theking_lawler's picture

fembot? hell yeah!

Thu, 06/06/2013 - 14:20 | Link to Comment LawsofPhysics
LawsofPhysics's picture

Yes, because this always worked out well before.

Like MDB says..

go long black markets and sharecropping...

You have been warned.

Thu, 06/06/2013 - 14:41 | Link to Comment Ignatius
Ignatius's picture

Non-share cropping in my backyard as we speak (though I have been known to give away a good quantity).  In fact, in these parts people lock their cars not because we're afraid of theft, but because another neighbor will come by and drop off more zucchini.

Thu, 06/06/2013 - 15:17 | Link to Comment MicroSecession
MicroSecession's picture

Thankfully, seed is super-cheap if you buy it by the pound.  For $8 I can either buy 6 tiny packs of lettue seed, or buy a whole pound (about 1,000 packs worth).

Fri, 06/07/2013 - 18:34 | Link to Comment MeelionDollerBogus
Thu, 06/06/2013 - 16:35 | Link to Comment IndyPat
IndyPat's picture

If the black market doesn't have it, I don't want it. Suits me just fine. I get mine and Benny don't get his.

Thu, 06/06/2013 - 14:22 | Link to Comment Bay of Pigs
Bay of Pigs's picture

+1 Priceless...

Thu, 06/06/2013 - 14:27 | Link to Comment oddjob
oddjob's picture

They will ban Gold coin sales, but they won't ban asbestos.

Thu, 06/06/2013 - 17:16 | Link to Comment Dave Thomas
Dave Thomas's picture

Or rape for that matter.

Thu, 06/06/2013 - 14:23 | Link to Comment Going Loco
Going Loco's picture

Backlash? How is this a backlash? How are they going to police a ban on gold sales, in India of all places? And how do gold coin sales matter to Indians, who  prefer a little jewellery with their gold.

Cmon MDB, your satire is usually good enough to fool people sometimes. This post isn't.

BTW I do agree that our time is coming. Just not in the way you say.

Thu, 06/06/2013 - 14:30 | Link to Comment Pinto Currency
Pinto Currency's picture

 

Indians have been increasing bullion and coin purchases vs jewellry recently.

Number of articles on the web.

Thu, 06/06/2013 - 14:39 | Link to Comment orez65
orez65's picture

Count me as an anti-government looney you shit head.

Been there and done that.

Got everything stolen from my family in a Latin American country.

Got it all back in the US plus a lot more.

That shit is not going to happen to me again.

So go ahead, make sure that you keep all your wealth in dollars, Treasuries and any and all other dollar denominated assets.

Thu, 06/06/2013 - 15:02 | Link to Comment Divided States ...
Divided States of America's picture

I hope you dont use Verizon.

Thu, 06/06/2013 - 15:14 | Link to Comment TPTB_r_TBTF
TPTB_r_TBTF's picture

.

 

Got it all back in the US plus a lot more.

yep.  when each member of the family has an EBT card,

it really adds up fast.

 

Thu, 06/06/2013 - 15:17 | Link to Comment reTARD
reTARD's picture

I'd like an Irish poem please!

Thu, 06/06/2013 - 17:10 | Link to Comment IndyPat
IndyPat's picture

After Prayers, Lie Cold
by C. S. Lewis

Arise my body, my small body, we have striven
Enough, and He is merciful; we are forgiven.
Arise small body, puppet-like and pale, and go,
White as the bed-clothes into bed, and cold as snow,
Undress with small, cold fingers and put out the light,
And be alone, hush'd mortal, in the sacred night,
-A meadow whipt flat with the rain, a cup
Emptied and clean, a garment washed and folded up,
Faded in colour, thinned almost to raggedness
By dirt and by the washing of that dirtiness.
Be not too quickly warm again. Lie cold; consent
To weariness' and pardon's watery element.
Drink up the bitter water, breathe the chilly death;
Soon enough comes the riot of our blood and breath.

Thu, 06/06/2013 - 15:23 | Link to Comment jughead
jughead's picture

I get it, MDB is Baghdad Bob!

Thu, 06/06/2013 - 15:36 | Link to Comment TheMeatTrapper
TheMeatTrapper's picture

Indian goldbugz were warned. But they refused to listen. This is a prelude of the backlash that is going to occur against golbugz and anti-government loonies across the world. Your time is coming.

 

Bring it you pussy. 

Fri, 06/07/2013 - 21:23 | Link to Comment papaclop
papaclop's picture

Ditto to bring it you pussy. I'm with Yardfarmer.

Thu, 06/06/2013 - 16:00 | Link to Comment jomama
jomama's picture

disappointing effort.

at least try to sound sincere.

Thu, 06/06/2013 - 16:17 | Link to Comment Yardfarmer
Yardfarmer's picture
Bullion banksters were warned. But they refused to listen. This is a prelude of the backlash that is going to occur against the COMEX and fascist government loonies across the world. Your time is coming.
Fri, 06/07/2013 - 18:29 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

time to get rich, yes, it is coming.

Thu, 06/06/2013 - 15:17 | Link to Comment Chaffinch
Chaffinch's picture

Another 39,500 ounces gold left the Comex yesterday - I wonder whether some of it left the US as a bribe to their friends at the Indian CB?

http://www.cmegroup.com/delivery_reports/Gold_Stocks.xls

Silver, platinum and even palladium all went out the door... : )

Thu, 06/06/2013 - 15:26 | Link to Comment Joe Sixpack
Joe Sixpack's picture

Probably mostly headed to China.

Thu, 06/06/2013 - 15:57 | Link to Comment mt paul
mt paul's picture

to pay interest

on their

US treasurie holdings ...

Thu, 06/06/2013 - 15:32 | Link to Comment resurger
resurger's picture

I just loved it when they panick, they add more sault to injury.

 

Thu, 06/06/2013 - 15:46 | Link to Comment Silveramada
Silveramada's picture

hhhmm...maybe that's why all our indian friend keep asking for Credit Suisse 1 oz gold bars...

Thu, 06/06/2013 - 14:09 | Link to Comment Ignatius
Ignatius's picture

Real price discovery solves the problem.

Interesting that India dissuades gold purchases while China encourages it (China being a net producer explain it?).  Also, after a massive revaluation Indians would likely dis-hoard and consume some portion of their new wealth, energizing local economies.

Thu, 06/06/2013 - 15:09 | Link to Comment Meat Hammer
Meat Hammer's picture

Only if they conduct business with gold as the currency.  If they start liquidating in exchange for the banks' rupees, then you'll have fiat flooding the economy causing massive inflation.  The banks will hoard the gold and the people will dig their own grave.  

Fiat must die.  

Thu, 06/06/2013 - 15:14 | Link to Comment ponzisaurus
ponzisaurus's picture

India.guv threw their lot in with the western banks after the wall fell.  Massive revaluation is correct.  If you are planning on getting your daughter married next year in India your pretty pissed right now, and probably scrambing for some metal as we post.  Gold while yes it is hoarded already circulates as defacto money in India.  Indians arnt stupid they know a fire sale when they see it, and those daughters are getting older...  All these things are a real threat to paper gold so delivery had to be stopped to what is probably the worlds largest community readily accepting gold as a medium of exchange.

Thu, 06/06/2013 - 15:13 | Link to Comment SAT 800
SAT 800's picture

China has excess "money", (dollars, whatever they are), and they like the peoples help in "soaking it up and making it go in the mattress". India has a balance of payments defecit; opposite situation; they need all their "Rupees", (whatever they are), in the bank so they can spend them. Which is not in the peoples interest, of course.

Thu, 06/06/2013 - 14:26 | Link to Comment THECOMINGDEPRESSION
THECOMINGDEPRESSION's picture

Do the opposite as to what the gov't says and does and you will be wealthy healthy and wise!

NEW Chinese Proverb

Thu, 06/06/2013 - 14:56 | Link to Comment Stuck on Zero
Stuck on Zero's picture

Pay the government to do your bidding.

-Jamie

Thu, 06/06/2013 - 19:05 | Link to Comment IndyPat
IndyPat's picture

Made me laugh with your American citizenisms!

Now that's a new Chinese proverb for you. Alas!

Thu, 06/06/2013 - 15:10 | Link to Comment SAT 800
SAT 800's picture

Yeah. They deserve everything that's coming to them.

Thu, 06/06/2013 - 15:20 | Link to Comment williambanzai7
williambanzai7's picture

INDIAN CLAIMS GOLD IS CLOTHING NOT MONEY

Thu, 06/06/2013 - 15:29 | Link to Comment kaiserhoff
kaiserhoff's picture

As my Granny would say,

William, you are a potion, which is similar to a tonic, or something just too useful for words to describe.

 

Thu, 06/06/2013 - 15:50 | Link to Comment ponzisaurus
ponzisaurus's picture

A best amonst best! Is he heading down to the SF tenderloin?

Thu, 06/06/2013 - 15:59 | Link to Comment jomama
jomama's picture

he's be relieved of his bling in a hot minute in that hood.

try the castro.

Thu, 06/06/2013 - 16:05 | Link to Comment A is A
A is A's picture

How are you posting these picks from Flickr???? I put the [] around the link and it never works!!! :(

Fri, 06/07/2013 - 18:03 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

it's the HTML img tag and if you're not a contributor to zerohedge it is blocked from display to stop image-spam. WilliamBanzai7 is a contributor, obviously, and is well trusted to produce non-spam.

Thu, 06/06/2013 - 16:24 | Link to Comment MagicHandPuppet
MagicHandPuppet's picture

hahaha!!! Nice!

Thu, 06/06/2013 - 16:02 | Link to Comment Son of Loki
Son of Loki's picture

"Store of Value," is what my Indian neighbor says.

Thu, 06/06/2013 - 19:19 | Link to Comment Pinky
Pinky's picture

I read this article and the first thing that came to mind was a famous line from one of the Harry Potter Movies, forget which one (my kid is grown now):

http://www.youtube.com/watch?v=WgLNQiZbivM

Junior Sorceress Hermione Granger:  "Whot. An. Idiot."

Other alchemists (at other central banks) are probably thinking the same thing of their banker friends in India. 

Thu, 06/06/2013 - 13:58 | Link to Comment Aknownymouse
Thu, 06/06/2013 - 15:16 | Link to Comment HedgeHammer
HedgeHammer's picture

OT. is the FED expanding QE?

More like expanding their money laundering scheme as this tells me that the FEDS are starting to panic and so it's time to deploy the spackling team for the cracks are beginning to widen.

Thu, 06/06/2013 - 13:59 | Link to Comment Haole
Haole's picture

Beat the rush, panic now.

Thu, 06/06/2013 - 14:05 | Link to Comment Bay of Pigs
Bay of Pigs's picture

Stop Indians from buying gold? This will create the Mother of All Black Markets.

It's fucking laughable...

Thu, 06/06/2013 - 14:17 | Link to Comment Divine Wind
Divine Wind's picture

 

 

Agreed.

I would venture a guess that coins make up a very small percentage of Au purchases overall anyhow.

Lots of amazing craftsman in that country making gold jewelry for everything from dowries to specialty wedding jewelry to simple daily bling.

Thu, 06/06/2013 - 14:30 | Link to Comment TeamDepends
TeamDepends's picture

Word is there's a golden bhang in the White House Choom Room.

Thu, 06/06/2013 - 14:55 | Link to Comment Jam Akin
Jam Akin's picture

Is it kept next to the tuna scented stogies?

Thu, 06/06/2013 - 15:17 | Link to Comment Buckaroo Banzai
Buckaroo Banzai's picture

I don't think Reggie Love smells like tuna.

Thu, 06/06/2013 - 17:40 | Link to Comment Jam Akin
Jam Akin's picture

True.  Another member of the family might be smokin' 'em these days.

Thu, 06/06/2013 - 14:33 | Link to Comment knukles
knukles's picture

Askin' Indians to stop buying gold (cultural thingamajiggie) is like askin' a Redneck to have a full set of teeth.
Ain't gonna happen.

Thu, 06/06/2013 - 15:17 | Link to Comment SAT 800
SAT 800's picture

you're a hoot. but are you sure that's politcally correct?

Thu, 06/06/2013 - 15:53 | Link to Comment ponzisaurus
ponzisaurus's picture

Yall aint never had no fun if ya got a full set of teeth!

Thu, 06/06/2013 - 16:16 | Link to Comment Overfed
Overfed's picture

Hey now. I've got all of my teeth. :-)

Thu, 06/06/2013 - 15:06 | Link to Comment Tsunami Wave
Tsunami Wave's picture

"It's not called a panic, if you're the first out of the door"

- Margin Call

Thu, 06/06/2013 - 14:00 | Link to Comment Divided States ...
Divided States of America's picture

If this happens here in the States, I am going to go fuckin postal. Democracy my ass. There are no more liberties left in this country when you cant buy what you want with your hard earn money and all they want you to load up on are overvalued equities.

Thu, 06/06/2013 - 14:01 | Link to Comment fonzannoon
fonzannoon's picture

The U.S is not that stupid. When we finally ban it we will offer a 5k reward to anyone who rats out someone who owns any as well.

Thu, 06/06/2013 - 14:02 | Link to Comment King_of_simpletons
King_of_simpletons's picture

Lest you forget this: http://www.the-privateer.com/1933-gold-confiscation.html

Done that already and failed.

Thu, 06/06/2013 - 14:03 | Link to Comment SAT 800
SAT 800's picture

5K what? NWO bus tokens?

Thu, 06/06/2013 - 14:10 | Link to Comment NotApplicable
NotApplicable's picture

I'm holding out for mag-lev train passes.

Fri, 06/07/2013 - 17:58 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

not the FEMA monorail?

Thu, 06/06/2013 - 14:10 | Link to Comment fonzannoon
fonzannoon's picture

5k in american idol tickets.

 

Thu, 06/06/2013 - 14:18 | Link to Comment NoTTD
NoTTD's picture

SDRs

Thu, 06/06/2013 - 14:34 | Link to Comment knukles
knukles's picture

Can I get that 5k in gold?

Thu, 06/06/2013 - 15:19 | Link to Comment SAT 800
SAT 800's picture

NO!

Thu, 06/06/2013 - 15:30 | Link to Comment wee-weed up
wee-weed up's picture

No, but how about lead...

Janet Nappy's DHS bullets coming straight at you!

Thu, 06/06/2013 - 15:14 | Link to Comment Kirk2NCC1701
Kirk2NCC1701's picture

LOL.  Jurisdiction is 9/10 of the law.  Phyz (private) storage outside the jurisdiction is the other 10th.  QED. 

"Got precious?  Got brains?  Got balls?" = Rhetorical questions.

Thu, 06/06/2013 - 14:09 | Link to Comment Dr. Engali
Dr. Engali's picture

Well if we use history as a guide......

Thu, 06/06/2013 - 15:21 | Link to Comment SAT 800
SAT 800's picture

Oh, not that again.

Thu, 06/06/2013 - 15:25 | Link to Comment Kirk2NCC1701
Kirk2NCC1701's picture

@ Divided States: "If this happens here in the States, I am going to go fuckin postal..."

Dude, few are gonna go Postal IMO, because... the 'Club Fed' will do this together.  Just like these MFer CBs are taking turns in Synchronized-QE in the fiat pool.  They are separating the Club-Fed from other CB's for the Final Showdown: WW3, by the looks of it.

India is a "pussy", when it comes down to it.  They (pacifist Buddhists and Hindus) will always do what their Colonial Masters in London or New York tell them to do.  Sad but true.

"Hey India, No Gold For You!  Maybe golden showers"  -Club Fed

Thu, 06/06/2013 - 15:33 | Link to Comment oddjob
oddjob's picture

You are the real pussy when it comes down to it.

Thu, 06/06/2013 - 20:24 | Link to Comment Kirk2NCC1701
Kirk2NCC1701's picture

Is that the best you can do, or can you actually compose a complex sentence or diamond paragraph as a rebuttal?  Troll!

Thu, 06/06/2013 - 21:09 | Link to Comment oddjob
oddjob's picture

You call out 2 billion people telling them that some degenerate synagogue groupie is going to give them a 'golden shower' and you call me the troll.

Thu, 06/06/2013 - 16:40 | Link to Comment Quantum Nucleonics
Quantum Nucleonics's picture

The good ship liberty sailed some time ago.  In America, you are now forced by the government to by a product from a private company or pay a fine, er... tax.

 

Thu, 06/06/2013 - 13:59 | Link to Comment The Shootist
The Shootist's picture

Gold, bitchez! And silver too!

Thu, 06/06/2013 - 14:10 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

Don't forget the ammo!

Thu, 06/06/2013 - 14:29 | Link to Comment Zwelgje
Zwelgje's picture

And beans!

Thu, 06/06/2013 - 16:27 | Link to Comment MagicHandPuppet
MagicHandPuppet's picture

And Turlet Paper... you never know!

Thu, 06/06/2013 - 15:21 | Link to Comment SAT 800
SAT 800's picture

SILVER THREE !

Thu, 06/06/2013 - 16:51 | Link to Comment sampo
sampo's picture

Yeah, the take - home from this is:

Silver coins for the Indian Bitchez!

Thu, 06/06/2013 - 13:59 | Link to Comment adventure007
adventure007's picture

 

For(int i = 0; i < infinity; i++)

{

Fuck you Chidambaram

}

 

Stacking silver at less than cost

http://www.visualcapitalist.com/vc-market-intelligence-june-2013

Thu, 06/06/2013 - 14:22 | Link to Comment A is A
A is A's picture

LMAO, best comment ever!

Thu, 06/06/2013 - 15:54 | Link to Comment freet0pian
freet0pian's picture

Nah, that'll still stop even if you don't initialize infinity.

 

Use the tried and true buggy method:

int i = 0;

while (i < infinity)

{

Fuck you Chidambaram

}

 

Remember to forget to put the i++

Fri, 06/07/2013 - 17:53 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

LOL

int BANKSTERS=666;

fuck (int x) {you(x);};

you (int x) {fuck(x);};

void main {

fuck(BANKSTERS);

}

Thu, 06/06/2013 - 13:59 | Link to Comment fonzannoon
fonzannoon's picture

If Indian's are as serious about gold as they seem to be I expect to see some Indian central bankers hanging from lamp posts.

Thu, 06/06/2013 - 14:06 | Link to Comment Winston Churchill
Winston Churchill's picture

They will just go back to smugglung it into Mumbai from the

Gulf states.Worked for centuries.

Tradition you know.

Thu, 06/06/2013 - 14:11 | Link to Comment WhyDoesItHurtWh...
WhyDoesItHurtWhen iPee's picture

Also the real reason for TSA and scanners at airports.

Thu, 06/06/2013 - 14:19 | Link to Comment Winston Churchill
Winston Churchill's picture

Some of us are fortunate enough to be a short sea journey away from

some foreign flag  islands.

Thu, 06/06/2013 - 15:09 | Link to Comment kaiserhoff
kaiserhoff's picture

Good point Winston.

Everything worth owning will be contra ban soon enough.

Thu, 06/06/2013 - 14:28 | Link to Comment Jam Akin
Jam Akin's picture

Maybe. But a good friend carries a couple of Kennedy half dollars in a bag of change that he keeps in the same pocket of his bag and has never had any airport security in any country (and that includes India - and they do look for it there I'm told) find the gold coin he carries for "security" in that pocket while on the road....

Thu, 06/06/2013 - 15:26 | Link to Comment slyhill
slyhill's picture

I got searched by tsa in the states when he wanted to know what the coin-shaped item the xray saw in my carry-on. Turns out I had forgot a casino chip in the pocket of my pants. Pissed me off...

Thu, 06/06/2013 - 15:30 | Link to Comment RaceToTheBottom
RaceToTheBottom's picture

100 oz bars of Silver will be flagged every time.  The last few, I take them outside the luggage but still in the tray in a paper bag.  They have complimented me on that so they do not have to send it through in a another tray after it comes up on the screen.

Thu, 06/06/2013 - 19:13 | Link to Comment IndyPat
IndyPat's picture

Wow. Bullish for Alabama, Mississippi and Florida. Think those gangsta ghetto fucks will part with their grills, though?
I dunno. Big premiums if they do.

Thu, 06/06/2013 - 20:01 | Link to Comment Jorgen
Jorgen's picture

Based on this documentary, it looks like smuggling gold from Thailand via Nepal to India has already been done very profitably for quite a while.

Thu, 06/06/2013 - 14:00 | Link to Comment Mototard at Large
Mototard at Large's picture

How stupid can a politician get? (rhetorical question....)

If the PM of Canada or the Prez of the USA begged everyone to stop buying gold coins, you just know more people would start buying.

My belief is that the people of India trust their government and its fiat currency as much as we trust our leaders in the Europe and North America.

Bullish for gold!

Thu, 06/06/2013 - 14:11 | Link to Comment Urban Redneck
Urban Redneck's picture

Perhaps after a couple fortnights under a Banyan tree watching the Indian trade deficit explode, the Chinese gold imports explode, and the Japanese currency printing and bond yields exploding... it was deemed wise to shout "Fire!" in a movie theater.

This should be about as fun to watch as Bluto yelling "Food Fight!" in a cafeteria...

Thu, 06/06/2013 - 14:00 | Link to Comment A. Magnus
A. Magnus's picture

You would think the Indian banker dipshits would have learned their lesson from Obama's ham-fisted attempts at preventing Americans from buying guns - see how those RECORD sales are turning out in regards to the intended policy!

Oh, and by the way...GOOOOOOOLD, BITCHEZ!!!

Thu, 06/06/2013 - 14:27 | Link to Comment NotApplicable
NotApplicable's picture

I'd say they're responding to external pressure. As for the comparison with Obummer though, I'd say your perspective is too narrow. Remember, it's never the action itself that's important, but the following reaction. Obummer's gun control stuff is designed not to control guns, but to escalate the battle over them.

In other words, increased gun sales are exactly what they wanted, as it further scares their flock, which then demand that they do even more.

It's nothing but the politics of divide and conquer, as that's the ONLY mechanism that makes government appear necessary. Without a polarized society, nobody would give two shits what ANY politican said (assuming they would even exist anymore).

Thu, 06/06/2013 - 14:31 | Link to Comment Sweet Chicken
Sweet Chicken's picture

It's nothing but the politics of divide and conquer, as that's the ONLY mechanism that makes government appear necessary. Without a polarized society, nobody would give two shits what ANYpolitican said (assuming they would even exist anymore).

 

 

Precisely.

Thu, 06/06/2013 - 15:21 | Link to Comment Buckaroo Banzai
Buckaroo Banzai's picture

I agree with you about "action and reaction", but don't have any illusions-- they sure as shit want your guns. It sickens them that free people have guns.

Thu, 06/06/2013 - 16:49 | Link to Comment tenpanhandle
tenpanhandle's picture

It sickens them that there are free people.

Thu, 06/06/2013 - 19:18 | Link to Comment IndyPat
IndyPat's picture

It sickens them that I'm so fucking awesome. Haters.

Thu, 06/06/2013 - 14:00 | Link to Comment JustObserving
JustObserving's picture

Idiots.  India has 20,000 tonnes bought at very low prices which has added immensely to the wealth of the country.  Rs 175 invested in gold in 1965 is worth Rs 90,000 today.  All this order will do is to increase smuggling from Dubai and Thailand.   Thank God, they did not stop earlier.  But India takes its economic marching orders from the US.

Thu, 06/06/2013 - 14:02 | Link to Comment SAT 800
SAT 800's picture

I tend to agree with you.

Thu, 06/06/2013 - 14:11 | Link to Comment JustObserving
JustObserving's picture

Finance minister P. Chidambaram will get a few zeros added to his Swiss bank accounts.  Seymour Hersh revealed that Morarji Desai, the urine-drinking former prime minister of India, had been on the CIA payroll for decades before he became prime minister.  Things must be getting serious in the gold markets for the Indian government to take such drastic measures.  Buy silver would be my advice to Indians.  In any case, smugglers will provide cheaper gold than official sources.  Buy more gold before the government hikes the duty to 16%.

Thu, 06/06/2013 - 19:20 | Link to Comment IndyPat
IndyPat's picture

The pee drinkers did not do this, man.

Fri, 06/07/2013 - 21:46 | Link to Comment papaclop
papaclop's picture

I doubt they have 20,000 tons.

Thu, 06/06/2013 - 14:01 | Link to Comment SAT 800
SAT 800's picture

Bullish.

Thu, 06/06/2013 - 14:19 | Link to Comment NoTTD
NoTTD's picture

Beat me to it.

 

SAT 400.

Thu, 06/06/2013 - 14:01 | Link to Comment mayhem_korner
mayhem_korner's picture

 

 

Why?  If gold is a useless, barbaric relic, the governments should be paying the bullion banks to give it away...

the Grinch is standing atop Mt. Crumpit, with his hand to his ear...

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